SPECIAL INVESTMENT FACILITATION COUNCIL
India will soon become third largest economy, focusing on providing 'trust of doing business' in country: PM Modi in Cyprus
Prime Minister Narendra Modi, during the India-Cyprus business roundtable, asserted India's trajectory to become the world's third-largest economy, highlighting tax reforms and ease of doing business initiatives. President Christodoulides hailed Modi's visit as historic, marking a new phase in their strategic partnership.
Centre eases rules for buying scientific equipment, consumables by R&D institutes
The government has eased financial regulations for scientific institutions, including those in defense, allowing greater autonomy in procuring research equipment and consumables. Researchers can now bypass the GeM portal for specialized purchases, with increased financial limits for various procurement methods. These changes aim to foster innovation and reduce bureaucratic hurdles, aligning India's scientific practices with global standards.
Normal occurrence of diversion by F-35: IAF on fighter jet emergency landing at Thiruvananthapuram airport
A British F-35 fighter jet executed an emergency landing at Kerala's Thiruvananthapuram International Airport. The incident occurred last night. The Indian Air Force confirmed its awareness and provided assistance for flight safety. The jet, believed to be from an aircraft carrier, landed due to low fuel. The IAF is coordinating with all agencies.
Children with chronic illnesses attend medically-supervised Camp Rainbow in Singapore
Camp Rainbow 2025 hosted 65 children with chronic illnesses for a three-day, two-night event in Singapore. Supported by 113 volunteers including 22 medical professionals, the event offered recreational activities while ensuring health needs were met. Club Rainbow (Singapore) has run the program since 1991 to promote independence and inclusion
$30K for breakfast? How Napier Council is justifying the spend as job cuts loom
Napier City Council's spending on a staff Christmas breakfast sparks debate. The council spent around $30,000 on the event. This happened while over 100 staff positions are under review. Critics question the expense. Mayor Kirsten Wise defends it as staff recognition. Concerns arise about public trust amid fiscal restraint. Some suggest cost-cutting measures for future events.
China-India relations maintain a hard-won momentum of improvement: Chinese Vice Foreign Minister Sun Weidong
Chinese Vice Foreign Minister Sun Weidong and Indian Foreign Secretary Vikram Misri engaged in dialogue in Delhi, emphasizing improved China-India relations following a meeting in Kazan. Both sides aim to increase political trust, advance cooperation, and properly manage disagreements. They agreed to prepare for the 24th Special Representatives' Meeting on the boundary question and resume direct flights and journalist exchanges.
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CREDAI partners with Adani Cement to promote green, best quality construction works
CREDAI has partnered with Adani Cement to promote sustainable construction practices across India. Adani Cement will provide green concrete solutions and technical support to CREDAI members. CREDAI also launched the Green India Council for reforestation and the Skilling Council to develop a future-ready workforce, starting with a large-scale reforestation project in Nashik, Maharashtra.
UN Security Council to meet on Iran as Israel promises further strikes
The United Nations Security Council is set to convene following Israel's strikes on Iran, prompting a request from Iran's Foreign Minister for the meeting. Israel's U.N. envoy declared the military operation would persist until Iran's nuclear and ballistic missile capabilities are eliminated. Iran asserts its right to self-defense and vows a decisive response, accusing Israel of aggression and war crimes.
Israel attacks Iran: Who is Ahmad Vahidi, the new IRGC chief after Hossein Salami’s death?
Ali Khamenei appointed Ahmad Vahidi as the new IRGC commander, following the death of Hossein Salami in an Israeli strike. Vahidi, a former IRGC commander and interior minister, previously led the Quds Force. Habibollah Sayyari was appointed Acting Chief of Staff.
Steel export parity price scheme yet to gain traction
Neither EEPC nor steel producers shared details about the quantity consumed under the scheme. This arrangement between MSME exporters and large steel producers was brokered by the Centre, with an aim to shield EEPC members using steel to make finished goods from price increases on account of safeguard duty.
Nepalese Foreign Minister calls for 'green energy cooperation' with India
Nepal's Foreign Minister highlights that green energy cooperation will strengthen interdependence between Nepal and India, emphasizing clean and sustainable energy sources. A long-term agreement to export 10,000 MW of electricity to India over the next decade signifies growing energy collaboration. Deuba also stressed enhancing connectivity through investments in various infrastructure projects.
Financial sector regulators to work on universal KYC
Financial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. Nirmala Sitharaman urged regulators to ensure seamless KYC experiences for citizens and expedite refunds of unclaimed amounts through district-level camps. The FSDC also discussed strengthening cybersecurity and implementing budget announcements related to KYC simplification for NRIs, PIOs, and OCIs.
Five chapters finalised in India-EU FTA
India and the EU concluded five chapters, including intellectual property and trade facilitation, during the 11th round of FTA talks in New Delhi. Discussions also addressed easing certification processes under India's Quality Control Orders.
TS EAMCET Counselling 2025: Check expected dates, official website, documents and more
Telangana State Council of Higher Education will soon start TS EAMCET 2025 counselling online. Counselling is expected to begin in the first week of July and continue till August 15. JNTU Hyderabad announced the results on May 11. Qualified candidates can participate through registration, option entry, seat allotment. The process includes three rounds and one special round.
French embassy visa fraud: CBI chargesheet filed against eight accused; Interpol silver notice issued to trace assets abroad
The CBI has filed charges against eight individuals, including a French Embassy official, for a visa fraud scheme operating from January 2021 to May 2022. Applicants from Punjab were charged between ₹13 lakh and ₹45 lakh for Schengen visas, with proceeds laundered through various accounts. The CBI coordinated internationally, securing an Interpol Silver Notice to trace assets held abroad.
36 lodgement centres set up to facilitate Amarnath pilgrims in J&K's Kathua
Authorities in Kathua district have established numerous lodgement centers and RFID registration counters to accommodate Amarnath Yatra pilgrims. Lakhanpur is being prepared to welcome devotees, with comprehensive inspections ensuring adequate facilities like sanitation and medical services. Security measures are also being heightened, with inter-agency coordination and anti-narcotics efforts prioritized in Udhampur to ensure a safe pilgrimage.
India-US trade pact: Officials discuss market access, digital trade, customs facilitation
India and the US engaged in discussions regarding a proposed bilateral trade agreement. Talks covered market access, digital trade, and customs facilitation. Both sides aim for a swift conclusion to the initial agreement. The US delegation visited India for in-depth negotiations. They are working towards a mutually beneficial agreement by fall 2025. The US is India's largest trading partner.
FM Nirmala Sitharaman asks regulators to expedite refund on unclaimed deposits, streamline KYC
Finance Minister Nirmala Sitharaman urged regulators to expedite unclaimed deposit refunds and streamline KYC processes during the 29th FSDC meeting. The council emphasized macro-financial stability, cybersecurity resilience, and inter-regulatory coordination. Members also discussed implementing budget announcements, improving factoring services, and reviewing past FSDC decisions to strengthen the financial sector.
ITI Mutual Fund launches new brand identity ‘Diviniti Specialized Investment Fund’
ITI Asset Management has launched Diviniti SIF, a new platform targeting the Specialized Investment Fund (SIF) space. Positioned between mutual funds and PMS/AIFs, SIFs aim to offer flexible, innovative solutions across equity, hybrid, and debt categories. ITI AMC sees this as a strategic move to address evolving investor needs and reshape portfolio management in a dynamic investment landscape.
Single speciality hospitals boom on strong demand, PE infusion
India's single-specialty hospital market is projected to more than double to $31 billion in the next three to four years, driven by private equity investments and expansion into smaller towns. These hospitals, focusing on areas like eyecare and oncology, are expected to capture 40% of the total healthcare market by 2028.
ICC Hall of Fame Induction 2025: Where to watch, time, venue, new inductees and other key details
The ICC is set to induct seven cricketing legends into its Hall of Fame on June 9, 2025, as part of the 'A Day with the Legends' celebration. This event precedes the World Test Championship Final between Australia and South Africa.
Karnataka minister Priyank Kharge urges EC to facilitate court-monitored EVM hackathon
This follows AICC leader Rahul Gandhi’s campaign for the disclosure of poll-related data of the Maharashtra elections. Kharge, in a post on X, said that in view of the debate on electoral integrity, he felt it was important to share the concerns and possible remedy he had formally raised with the Election Commission.
FM asks NIIF to leverage its sovereign-backed design, explore diversified finance sources
Finance Minister Nirmala Sitharaman urged the National Investment and Infrastructure Fund to highlight its achievements. She emphasized proactive fundraising and exploring diverse financing sources. The NIIF's assets under management have increased significantly. The Governing Council acknowledged NIIF's role in mobilizing capital. They reviewed the performance of its various funds.
'Criminal betrayal of our soldiers': Cong slams Modi govt over 'failing' to isolate Pakistan
The Congress party claims Modi government did not isolate Pakistan after the Pahalgam attack. They allege China is arming Pakistan with jets and missiles. International organizations like the World Bank and IMF are providing financial aid. Congress leaders question the government's foreign policy and counter-terrorism efforts. They demand answers regarding intelligence failures and past claims of brokered ceasefires.
We aim to make Central Waqf Council more robust, responsive, says Kiren Rijiju
Minority Affairs Minister Kiren Rijiju highlighted the government's commitment to strengthening the Central Waqf Council and ensuring transparent governance through the Waqf (Amendment) Act, 2025. He announced the upcoming launch of the "UMEED" portal for digitizing Waqf properties. The ministry observed World Environment Day with a tree plantation drive, "Ek Ped Maa Ke Naam," promoting environmental responsibility and honoring mothers.
EAM Jaishankar appreciates countries for condemning Pahalgam terror attack
External Affairs Minister S Jaishankar acknowledged Central Asian countries' support in condemning the Pahalgam terror attack. He highlighted the strengthened ties over millennia, marked by increased trade, economic cooperation, and educational exchanges. India remains a trusted development partner, focusing on various sectors like trade, investment, and technology, aiming for a deeper partnership.
India, Central Asia to expand counter-terror, security ties
India and Central Asian states are enhancing counter-terror cooperation, trade, and connectivity. External Affairs Minister S Jaishankar met with Central Asian ministers to discuss expanding security cooperation following recent terror attacks and boosting trade ties. Jaishankar emphasized diversifying trade and exploring mutual settlement in national currencies to leverage India's growing economy.
India seeks measures to tackle trade distortions
India has urged action against trade distortions from non-market economies and non-tariff barriers, emphasizing the need for a robust WTO dispute settlement mechanism. Piyush Goyal stressed strengthening the consensus-based approach and special treatment for developing nations. Discussions also covered agriculture, overfishing, and concerns about incorporating joint statement initiatives into the multilateral framework.
WTO chief urges India to back China-led investment pact
WTO Director-General Ngozi Okonjo-Iweala has urged India to support the China-led Investment Facilitation for Development (IFD) agreement, which aims to establish a pre-investment review system. While 90 out of 126 developing country members support the IFD, India remains opposed, arguing it's not a trade issue requiring consensus.
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